There has been much speculation about the risk of Brexit affecting London's position as a dispute resolution capital of the world including, in particular, if the UK and EU/EFTA States were unable to agree terms, broadly equivalent to those currently in place, in respect of cross-border disputes and judicial co-operation.
It is certainly the case that the UK is facing increasing competition from other dispute resolution forums across the globe - and such competition is being further fuelled by speculation as to the potential implications of Brexit on cross-border litigation.
At the same time however:
- it may be that the greatest risk for the UK courts comes not from the substantive or practical concerns that Brexit in fact creates, but rather from the effects of uncertainty and international perception (and in some instances, misperception); and
- it is important to emphasise that the UK courts are not "resting on their laurels": a number of steps are being taken to modernise the UK courts, systems, procedures and available remedies, in order to keep pace with a rapidly evolving modern world.